Opthea (NASDAQ:OPT) Sees Large Volume Increase – Here’s What Happened

Opthea Limited (NASDAQ:OPT) saw an uptick in trading volume on Thursday . 36,145 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 37,414 shares.The stock last traded at $6.03 and had previously closed at $5.33.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OPT. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Opthea in a research note on Wednesday, January 29th. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th.

Opthea Price Performance

The company’s 50-day moving average price is $4.05 and its two-hundred day moving average price is $3.69.

Institutional Trading of Opthea

Several hedge funds and other institutional investors have recently bought and sold shares of OPT. ABC Arbitrage SA bought a new position in Opthea during the 4th quarter worth approximately $40,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the third quarter worth $81,000. Finally, Jane Street Group LLC acquired a new position in Opthea in the third quarter worth $114,000. 55.95% of the stock is owned by institutional investors.

About Opthea

Opthea Limited, a clinical stage biopharmaceutical company, engages in the development and commercialization of therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) VEGF-C, VEGF-D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage.